• About
  • Advertise
  • Newsroom
  • Contact Us
Tuesday, August 16, 2022
No Result
View All Result
NEWS ALERTS
GantNews.com
62 °f
Clearfield
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Job Board
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Job Board
No Result
View All Result
GantNews.com
No Result
View All Result
ADVERTISEMENT
Home News Business News

JLL: DuBois Mall Isn’t Going Anywhere

by Wendy Brion
Monday, February 26, 2018
in Business News, Local News, Top Stories
0
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

DUBOIS – “The important thing is the DuBois Mall is open and ready for business.”

So said Earnest Diaz, representative of Jones Lang LaSalle, IP Inc., the company recently appointed by court to be the receiver of the DuBois Mall property. JLL will also serve as leasing agent for the mall.

JLL is the largest third-party manager of malls in the United States.

Diaz explained that a property is placed in receivership when the owner defaults on loans. This means that JLL will now be managing the mall.

A similar situation recently took place at a much larger property: Galleria Pittsburgh Mills, according to articles in the Pittsburgh-Post Gazette.

That mall was opened in 2005 in partnership between Johnstown-based Zamias Services Inc. and Mills Corp. Zamias currently owns the Clearfield and Indiana Malls.

In 2006 Galleria Pittsburgh Mills was worth $190 million. Mills Corp. filed for bankruptcy in 2007, the Gazette reports. JLL was tapped to manage the mall during the foreclosure process of Galleria Pittsburgh Mills.

Earlier this year, Galleria Pittsburgh was auctioned off for $100 to Wells Fargo.

An article in Money Magazine noted that the Pittsburgh mall went into foreclosure in 2016 due to the suburban residents moving back into the urban area, resulting in fewer customers in the vast mall.

But so far as the DuBois Mall, “it’s not going anywhere,” Diaz said, “This is just an internal change.”

He said JLL intends to make needed changes and corrections to ensure the mall’s future in the community.

Stocks surge; Buffett moves markets; Samsung in spotlight
Coroner’s Office Issues Annual Report
Tags: DuBoisDuBois MallEarnest DiazIP Inc.JLLJones Lang LaSalle

Wendy Brion

Next Post

Stocks surge; Buffett moves markets; Samsung in spotlight

Please login to join discussion
GantNews.com

© 2020 GantNews

  • About
  • Advertise
  • Newsroom
  • Contact Us

No Result
View All Result
  • Home
  • Top Stories
  • News
    • Top Stories
    • A & E
    • Business News
    • Crime
    • Local News
    • Explore Jefferson
    • Features
    • Health News
      • Health & Wellness
    • Sports
      • Local Sports
  • Obituaries
  • Opinions
  • Classifieds
    • Real Estate
  • Job Board

© 2020 GantNews

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In